IDB to address MSIs marketing problems
The Industrial Development Board (IDB) will
support Micro and Small Industries (MSIs) to market products in the
local and export market. IDB Chairman Nawaz Rajabdeen said that the
biggest drawback in marketing MSI products are problems in quality
certification, packaging and branding.
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Drought affects agriculture
The prevailing drought will cause a setback in
economic growth this year, economic analysts said. Polonnaruwa,
Anuradhapura, Moneragala, Ampara, Hambantota, Puttalam, Trincomalee,
Mannar, Vavuniya and Mullaitivu districts are now experiencing a
severe drought.
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Sri Lanka's exports to India grow 10-fold
Since the launch of the Indo-Sri Lanka Free
Trade Agreement (ISLFTA), Sri Lanka's exports to India have
increased by over 10-fold from US$ 49 million in 1999 to US$ 543
million in 2013, Indian High Commissioner Yashvardhan Kumar Sinha
told the 17th AGM of the Exporters Association of Sri Lanka (EASL)
in Colombo last week.
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Inflation moderates in July
Inflation, moderated further to 4.7 percent in
July 2014 from 4.9 percent in June 2014, on an annual average basis,
declining for the fourteenth consecutive month, a Department of
Census and Statistics release said. Year-on-year (YoY) inflation has
been maintained within benign single digit levels so far in 2014,
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Lanka to benefit from growth in advanced economies - IMF
Sri Lanka’s economic growth has been one of the
fastest among Asia’s developing economies in recent years. After
falling to 6.3 percent in 2012, real GDP growth accelerated to 7.3
percent in 2013 — driven primarily by a pick up in services activity
and supported by manufacturing and construction,
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